PHILADELPHIA, PA--(Marketwire - May 4, 2011) - Resource America, Inc. (NASDAQ: REXI) (the
"Company") reported an adjusted loss from continuing operations
attributable to common shareholders, a non-GAAP measure, of $675,000, or
$0.03 per common share-diluted, and $1.0 million, or $0.05 per common
share-diluted, for the second fiscal quarter and six months ended March 31,
2011, respectively, as compared to an adjusted loss from continuing
operations attributable to common shareholders of $880,000, or $0.05 per
common share-diluted, and $752,000, or $0.04 per common share-diluted, for
the second fiscal quarter and six months ended March 31, 2010,
respectively. A reconciliation of the Company's reported GAAP loss from
continuing operations attributable to common shareholders to adjusted loss
from continuing operations attributable to common shareholders, a non-GAAP
measure, is included as Schedule I to this release.

For the second fiscal quarter and six months ended March 31, 2011, the
Company reported a GAAP net loss attributable to common shareholders of
$4.3 million, or $0.22 per common share-diluted, and $4.8 million, or $0.25
per common share-diluted, respectively, as compared to $1.2 million, or
$0.06 per common share-diluted, and $261,000, or $0.01 per common
share-diluted, for the second fiscal quarter and six months ended March 31,
2010, respectively. Included in GAAP net loss attributable to common
shareholders for the second fiscal quarter and six months ended March 31,
2011 was a $2.2 million charge, net of tax, to discontinued operations
related to a previously sold real estate asset.

Jonathan Cohen, CEO and President, commented, "During our second quarter
ended March 31, 2011, the Company continues to make progress and has now
begun to grow again. Assets under management increased over $600 million
from a year ago and revenues increased substantially from last quarter, and
growth prospects appear to have been revived in REIT and CLO offerings
which have been a key driver to our company's asset growth. Our balance
sheet is in good shape with approximately $16.5 million in cash and after
the closing of our non-core real estate sale in June (under contract now)
we expect to book a gain of $8.5 million and take in approximately $17
million of additional cash after taxes."

Assets Under Management

The following table details the Company's assets under management by
operating segment, which increased by $607.6 million (5%) from March 31,
2010 to March 31, 2011:

A description of how the Company calculates assets under management is set
forth in Item 1 of the Company's Annual Report on Form 10-K for the fiscal
year ended September 30, 2010.

Book Value

As of March 31, 2011, the Company's book value per common share was $6.69
per share. Total stockholders' equity was $127.1 million as of March 31,
2011 as compared to $144.9 million as of March 31, 2010. Total common
shares outstanding were 18,986,783 as of March 31, 2011 as compared to
18,223,993 as of March 31, 2010.

Highlights for the Second Fiscal Quarter Ended March 31, 2011 and Recent
Developments

REAL ESTATE:

-- Fundraising: Resource Real Estate, Inc. ("RRE"), the Company's real
estate operating segment, has sponsored and is the external manager of
Resource Real Estate Opportunity REIT, Inc. ("RRE Opportunity REIT"),
which is a public non-traded real estate program. Through April 29,
2011, RRE Opportunity REIT has raised approximately $40.2 million and
made the acquisition described below during the second fiscal quarter
ended March 31, 2011.
-- Acquisition: In March 2011, RRE purchased a $3.1 million portfolio
consisting of four loans on behalf of RRE Opportunity REIT, each of
which is secured by a first priority mortgage on a multifamily
residential apartment community. In connection with this purchase, the
Company received a $64,000 acquisition fee and will receive management
fees and debt servicing fees on two of the loans in the future.
-- Resolution of Equity Interest: In March 2011, RRE, along with an
existing joint venture partner, sold its interest in an apartment
building in Lafayette, IN and received proceeds of $282,000.
-- Property Management: Resource Real Estate Management, Inc., the
Company's property management subsidiary, increased the apartment units
it manages to 14,913 units at 52 properties as of March 31, 2011 from
14,456 units at 54 properties as of March 31, 2010.

FINANCIAL FUND MANAGEMENT:

-- CLO Award Nomination: Apidos Capital Management, LLC ("Apidos"), the
Company's leveraged loan manager, has been selected as a finalist for
several Creditflux CLO manager awards. Apidos is a finalist in the
categories of Best 2007 US CLO, Best 2006 US CLO and Best 2005 US CLO.
It is the only finalist that has been nominated in all three of these
categories. Apidos has also been nominated for Best US CLO manager.
-- New Management Agreement: In February 2011, in connection with the
acquisition by Resource Capital Corp. ("RSO") of Churchill Pacific
Asset Management LLC, which was renamed Resource Capital Asset
Management, LLC ("RCAM"), Apidos was appointed sub-advisor and agent to
advise RCAM in connection with its collateral management and collateral
administration duties under five collateral management agreements. In
connection with the services provided, Apidos will receive 10% of all
base and additional collateral management fees and 50% of incentive
management fees collected by RCAM.

COMMERCIAL FINANCE:

-- In January 2011, LEAF Financial Corporation ("LEAF"), the Company's
commercial finance operating segment, raised or obtained
commitments for up to approximately $236 million of equity and debt
capital to expand its leasing platform through its new lease
origination and servicing subsidiary, LEAF Commercial Capital, Inc.
("LEAF Commercial"). LEAF Commercial is a joint venture among LEAF,
Resource Capital Corp. ("RSO") and Guggenheim Securities, LLC
("Guggenheim"). RSO and Guggenheim committed to investing up to
$44 million of capital in the form of preferred stock and subordinated
debt into LEAF Commercial. In addition, Guggenheim has arranged a new
financing facility for LEAF Commercial of up to $192 million in
revolving senior debt to fund new originations.
-- Lease Origination/Platform Expansion: LEAF Commercial continues to
focus its origination efforts to better serve its equipment vendor
customers, support its independent equipment dealers and enhance its
manufacturer branch networks through its full service processing center
in Moberly, MO. In addition, through its Philadelphia, PA processing
center, LEAF Commercial will support the captive finance arms of its
manufacturer clients, as well as bank outsourcing and direct marketing
to end users in select vertical markets.
-- Increased Key Metrics: As a result of the capital raise announced in
January 2011 and the refocusing of resources on the expansion of the
platform, our commercial finance operation has shown significant
increases in key business metrics for the second fiscal quarter ended
March 31, 2011 as compared to the first fiscal quarter ended
December 31, 2010:
-- Credit Applications - up 31%
-- Lease Originations - up 73%
-- Approved Backlog - up 79%
-- Expanded Credit: In April 2011, Wells Fargo Lender Finance ("Wells")
joined as a participant in LEAF Commercial's revolving senior debt
facility arranged and managed by Guggenheim. This additional $60
million commitment from Wells will be used by LEAF Commercial to fund
new lease originations.
-- Securitizations: Since May 2010, LEAF has completed five securitization
transactions totaling $700 million on behalf of affiliates for which it
manages leasing portfolios. These transactions have been term funded
through the issuance of contract-backed notes and LEAF will continue to
service these securitization pools.

CORPORATE/OTHER:

-- RSO Public Offering: RSO, a real estate investment trust for which the
Company is the external manager and a shareholder, completed a public
common stock follow-on offering of 6.9 million shares of its common
stock at a price of $6.90 per share and received net proceeds, after
underwriting discounts and expenses, of $46.6 million. The Company is
paid a base management fee of 1.5% based on RSO's equity.
-- New Credit Facility: In February 2011, the Company entered into a new
$3.5 million secured line of credit with Republic First Bank
("Republic"). The Republic facility bears interest at a rate of prime
plus 100 basis points with a floor of 4.5% and matures on September 28,
2012.
-- Amended Credit Facility: In March 2011, the Company entered into an
amendment with TD Bank with respect to its corporate credit facility.
In connection with this amendment, the following material changes were
made:
-- Maximum facility amount was increased from $12.9 million to $14.5
million, consisting of a $5.0 million term loan and a $9.5 million
revolving loan component;
-- Maturity date was extended to August 31, 2012 from October 15,
2011;
-- Reduced applicable base rate interest rate spread to 225 basis
points over the prime rate (with a 6% floor) from 300 basis points
over the prime rate (with a 7.00% floor);
-- Reduced applicable LIBOR interest rate spread to 300 basis points
over the prime rate (with a 6% floor) from 450 basis points over
the prime rate (with a 7.50% floor); and
-- Modification to apply asset sale prepayments to only reduce the
term loan.
-- Dividends: The Company's Board of Directors authorized the payment on
April 29, 2011 of a $0.03 cash dividend per share on the Company's
common stock to holders of record as of the close of business on
April 19, 2011. RSO declared a cash dividend of $0.25 per common
share for its first quarter ended March 31, 2011.

Resource America, Inc. is a specialized asset management company that uses
industry specific expertise to evaluate, originate, service and manage
investment opportunities for its own account and for outside investors in
the real estate, commercial finance and financial fund management sectors.

Statements made in this release include forward-looking statements, which
involve substantial risks and uncertainties. The Company's actual results,
performance or achievements could differ materially from those expressed or
implied in this release and its other reports filed with the Securities and
Exchange Commission. For information pertaining to risks relating to these
forward-looking statements, reference is made to the section "Risk Factors"
contained in Item 1A of the Company's Annual Report on Form 10-K and in
other of its public filings with the Securities and Exchange Commission.
The Company undertakes no obligation to update or revise any
forward-looking statements to reflect new or changing information or events
except as may be required by law.

A registration statement relating to securities offered by RRE Opportunity
REIT was declared effective by the SEC on June 16, 2010. A written
prospectus relating to these securities may be obtained by contacting
Chadwick Securities, Inc., 2005 Market Street, 15th Floor, Philadelphia, PA
19102.

This press release shall not constitute an offer to sell or a solicitation
of an offer to buy any of the securities described herein, nor shall there
be any sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.

The remainder of this release contains the Company's unaudited consolidated
balance sheets, consolidated statements of operations, consolidated
statements of cash flows, and reconciliation of GAAP loss from continuing
operations attributable to common shareholders to adjusted loss from
continuing operations attributable to common shareholders.